Hudson Technologies Participates at COP28; Supports Global Cooling Pledge

Rhea-AI Summary

Hudson Technologies, Inc. (NASDAQ: HDSN) joins the international community in support of the Global Cooling Pledge launched at COP28 in Dubai. The pledge commits to reducing cooling-related emissions by at least 68% by 2050 and establishing energy performance standards by 2030. Hudson's Director of Government Affairs presented at a panel, detailing the company's expertise in Lifecycle Refrigerant Management (LRM) in line with the pledge. Hudson's CEO emphasized the importance of sustainable cooling methods and the company's commitment to supporting the Cooling Pledge.

WOODCLIFF LAKE, N.J., Dec. 14, 2023 (GLOBE NEWSWIRE) -- Hudson Technologies, Inc. (NASDAQ: HDSN) a leading provider of innovative and sustainable refrigerant products and services to the Heating, Ventilation, Air Conditioning, and Refrigeration industry – and one of the nation’s largest refrigerant reclaimers joins the international community in support of the Global Cooling Pledge launched last week at COP28 in Dubai. The Global Cooling Pledge is a joint initiative between the United Arab Emirates, who hosted COP28 and the United Nations Environment Programme’s (UNEP) Cool Coalition, of which Hudson Technologies is a member.

The Global Cooling Pledge commits countries to reducing their cooling-related emissions by at least 68% by 2050 and establishes several other targets including the creation of minimum energy performance standards by 2030. The pledge promotes international cooperation toward emission reduction, improved energy efficiency and environmentally sound and sustainable methods to provide cooling and refrigeration. As part of COP28, Ruth Ivory-Moore, Hudson’s Director of Government Affairs, presented at a panel on December 8, 2023, entitled “Securing Additional Greenhouse Gas Emissions Through the Ozone Treaty”. Ms. Ivory-Moore detailed Hudson’s capabilities and expertise related to Lifecycle Refrigerant Management (LRM), including practices that support principles of the Cooling Pledge.

Brian F. Coleman, President and Chief Executive Officer of Hudson Technologies commented, “COP28 addressed many topics and concerns relevant to the refrigeration and cooling industry. Hudson has long been a proponent of the circular economy for refrigerants and the practice of Lifecycle Refrigerant Management as a climate mitigation tool in the support of sustainable cooling methods. As average global temperatures rise, energy efficient refrigeration and cooling systems help to promote healthy communities by keeping vaccines stable, food fresh, economies productive and the environment clean. Reclamation of HFCs, a key aspect of LRM, is crucial to support the installed base of cooling technology during the transition to next generation lower GWP refrigerants.  Hudson is proud to have shared our knowledge and expertise in the area of Lifecycle Refrigerant Management on the global stage and we look forward to further supporting the Cooling Pledge.”

About Hudson Technologies         

Hudson Technologies, Inc. is a leading provider of innovative and sustainable refrigerant products and services to the Heating Ventilation Air Conditioning and Refrigeration industry. For nearly three decades, we have demonstrated our commitment to our customers and the environment by becoming one of the first in the United States and largest refrigerant reclaimers through multimillion dollar investments in the plants and advanced separation technology required to recover a wide variety of refrigerants and restoring them to Air-Conditioning, Heating, and Refrigeration Institute standard for reuse as certified EMERALD Refrigerants™. The Company's products and services are primarily used in commercial air conditioning, industrial processing and refrigeration systems, and include refrigerant and industrial gas sales, refrigerant management services consisting primarily of reclamation of refrigerants and RefrigerantSide® Services performed at a customer's site, consisting of system decontamination to remove moisture, oils and other contaminants. The Company’s SmartEnergy OPS® service is a web-based real time continuous monitoring service applicable to a facility’s refrigeration systems and other energy systems. The Company’s Chiller Chemistry® and Chill Smart® services are also predictive and diagnostic service offerings. As a component of the Company’s products and services, the Company also generates carbon offset projects.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995

Statements contained herein which are not historical facts constitute forward-looking statements. Such forward-looking statements involve a number of known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.  Such factors include, but are not limited to, changes in the laws and regulations affecting the industry, changes in the demand and price for refrigerants (including unfavorable market conditions adversely affecting the demand for, and the price of, refrigerants), the Company's ability to source refrigerants, regulatory and economic factors, seasonality, competition, litigation, the nature of supplier or customer arrangements that become available to the Company in the future, adverse weather conditions, possible technological obsolescence of existing products and services, possible reduction in the carrying value of long-lived assets, estimates of the useful life of its assets, potential environmental liability, customer concentration, the ability to obtain financing, the ability to meet financial covenants under existing credit facilities, any delays or interruptions in bringing products and services to market, the timely availability of any requisite permits and authorizations from governmental entities and third parties as well as factors relating to doing business outside the United States, including changes in the laws, regulations, policies, and political, financial and economic conditions, including inflation, interest and currency exchange rates, of countries in which the Company may seek to conduct business, the Company’s ability to successfully integrate any assets it acquires from third parties into its operations, the impact of the current COVID-19 pandemic, and other risks detailed in the Company's 10-K for the year ended December 31, 2022 and other subsequent filings with the Securities and Exchange Commission. The words "believe", "expect", "anticipate", "may", "plan", "should" and similar expressions identify forward-looking statements.  Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statement was made.

Investor Relations Contact: John Nesbett/Jennifer Belodeau IMS Investor Relations (203) 972-9200 jnesbett@institutionalms.com

Company Contact: Brian F. Coleman, President & CEO Hudson Technologies, Inc. (845) 735-6000 bcoleman@hudsontech.com

FAQ

What is the Global Cooling Pledge and how is Hudson Technologies involved?

The Global Cooling Pledge aims to reduce cooling-related emissions by 68% by 2050 and establish energy performance standards by 2030. Hudson Technologies supports the pledge and presented its expertise in Lifecycle Refrigerant Management at COP28.

What role does Hudson Technologies play in the refrigeration industry?

Hudson Technologies is a leading provider of innovative and sustainable refrigerant products and services, as well as one of the nation’s largest refrigerant reclaimers.

Who presented at COP28 on behalf of Hudson Technologies?

Ruth Ivory-Moore, Hudson’s Director of Government Affairs, presented at a panel at COP28, detailing the company's expertise in Lifecycle Refrigerant Management.

What is Lifecycle Refrigerant Management (LRM) and how does it relate to Hudson Technologies?

Lifecycle Refrigerant Management (LRM) is a climate mitigation tool that supports sustainable cooling methods. Hudson Technologies has expertise in LRM and emphasized its commitment to the practice at COP28.

How does Hudson Technologies contribute to supporting healthy communities and the environment?

Hudson Technologies promotes energy efficient refrigeration and cooling systems to keep vaccines stable, food fresh, and the environment clean. The company also supports the reclamation of HFCs, a key aspect of LRM, to aid in the transition to next-generation lower GWP refrigerants.